Oracle Buys Retail Software Firm

Oracle (ORCL) - Get Report boosted its customer-management software portfolio Monday with its purchase of privately held ProfitLogic, which specializes in retail demand patterns.

Terms weren't disclosed.

"ProfitLogic's software provides analysis that helps retailers put the right product in the right store, for the right customer, at the right time," said Duncan Angove, general manager of Oracle's Retek Global Business unit. "Our acquisition of ProfitLogic will create the most comprehensive software solution for the retail industry.

Oracle expects the transaction to close by the end of July, subject to certain regulatory approvals and other customary conditions.

to purchase Retek for $670 million. Oracle saw the acquisition as an important defense against SAP, its major rival in the business applications market, and a way to strengthen its position as a supplier of software to the retail industry.

Oracle closed Tuesday off 2 cents to $13.27. After the announcement, shares recently added 6 cents in after-hours trading to $13.33 on Instinet.